USDCHF Movement
On Friday, the USD declined 0.78% against the CHF and closed at 0.9377.
In economic news, data showed that Switzerland’s consumer price index declined 0.1% (MoM) in August, defying market expectation for a rise to 0.0% and following a 0.4% drop seen in the previous month. Meanwhile, industrial production in the nation fell 1.1% (QoQ) during the second quarter, following a 3.5% increase seen in the previous month.
In the Asian session, at GMT0300, the pair is trading at 0.9390, with the USD trading 0.14% higher from Friday’s close.
The pair is expected to find support at 0.9339, and a fall through could take it to the next support level of 0.9287. The pair is expected to find its first resistance at 0.9449, and a rise through could take it to the next resistance level of 0.9507.
Investors await Switzerland’s unemployment and real retail sales data, scheduled to release later today, for further guidance.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
